As per the study initiated by Evolve Business Intelligence, the global Smart Motors Market size accounted for USD 2.5 Billion in 2022, growing at a CAGR of 6.1% from 2023 to 2030. Smart Motors Market” refers to the market for electric motors that are equipped with advanced technologies and features to enhance their efficiency, performance, and connectivity. These motors are designed to operate in a more intelligent and automated manner compared to traditional motors.
The smart motors market is driven by the growing demand for automation, energy efficiency, and connectivity in various industries. Industries seeking to improve their operational efficiency and reduce downtime are increasingly adopting smart motor technology. Additionally, the integration of smart motors into the broader framework of the Internet of Things (IoT) is contributing to the expansion of this market, as it enables remote monitoring and data-driven decision-making.
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- The global Smart Motors Market size was valued at USD 5billion in 2022 growing at a CAGR of 6.1% from 2023 to 2030.
- North America dominated the market in 2022
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2030
Evolve Business Intelligence has published a new market research report on Global Smart Motors Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the Smart Motors Market report also includes the following data points:
- COVID19 Impact on Smart Motors Market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Smart Motors Market
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Some of the major Smart Motors Market players holding high market share include Moog Animatics, Siemens AG, Robotshop Inc. and General Electric Co. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
- Rockwell Automation Inc.
- Moog Animatics
- Siemens AG
- Robotshop Inc.
- General Electric Co.
- Roboteq Inc.
- ABB Ltd.
- FUJI Electric Co. Ltd.
- Schneider Electric SE.
Market Segment By Type with focus on market share, consumption trend, and growth rate of Smart Motors Market:
- Variable Speed Drive
- Intelligent Motor Control Center
Market Segment By Application with focus on market share, consumption trend, and growth rate of Smart Motors Market:
- Consumer Electronics
- Aerospace & Defense
|Market Size (2022)||$ 2.5 Billion|
|CAGR (2023 to 2030)||6.1%|
|Market Segmentation||Type, Application|
|Country Covered||US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America|
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Global Automotive Steering Torque Sensors Geographic Coverage:
- North America
- Nordic Countries
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
Reasons to Buy this Report:
- Detail analysis of the impact of market drivers, restraints, and opportunities
- Competitive Intelligence providesan understanding of the ecosystem
- Details analysis of the Total Addressable Market (TAM) of your products
- Investment Pockets and New Business Opportunities
- Demand-supply gap analysis
- Strategy Planning
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